XPEL Announces 2011 Results
XPEL ANNOUNCES 2011 RESULTS
SAN ANTONIO, TEXAS, April 26, 2012…XPEL Technologies Corp. (TSXV: DAP.U) today announced results for the year ended December 31, 2011.
For the Fiscal Year Ended December 31, 2011:
Revenues. Revenues increased 46% to $6,041,853 from $4,129,964 in 2010.
Direct Costs. Direct Costs of sales increased as a percentage of revenue to 58% from 53% in 2010.
Expenses. General and administrative expenses increased 17% to $1,902,484 from $1,625,438 in 2010.
Net Income. The Company had net income before taxes of $608,949 as compared to net income before taxes of $224,748 in 2010. The Company had net income of $815,887 as compared to net income of $425,810 in 2010.
Complete financials are available at http://www.xpel.com/relations/ or on SEDAR.
About XPEL Technologies Corp:
XPEL is the leading supplier of automotive paint and headlamp protection films with over 70,000 vehicle-specific applications and a worldwide network of trained installers. Additional information can be found on the Company’s website at www.xpel.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Chief Executive Officer
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)